Regulatory Alerts2026-08-06 | 2026-16066Added
Investment Company Governance Technical Amendments
The Securities and Exchange Commission amends rule 0-1(a)(7) under the Investment Company Act of 1940 to reflect a Federal court's vacatur of the 75% disinterested director requirement and the disinterested chairman requirement. These technical amendments remove those specific provisions from the Code of Federal Regulations and revert the fund governance standards for regulated funds to the requirements in effect before September 7, 2004. The other provisions of rule 0-1(a)(7), including the simple majority disinterested director requirement, remain unchanged. The amendments became effective on August 6, 2026.
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